What a saga it has been.
The SEC lawsuit against Ripple Labs has officially come to an end, and about time.
Within minutes of this announcement, XRP and XLM (a hard fork of the former) started surging, both of which are up between 13 and 15% over the past 24 hours.
I see this as perfect timing, as we have a range of bullish catalysts at play for the entire cryptocurrency market in the coming months:
– The upcoming meeting between Trump and Putin, possibly a trilateral one involving Zelensky.
– The moderate-to-high probability that the Fed will lower interest rates.
– A 95% possibility of XRP, SOL and other altcoins’ spot ETFs being approved by October, according to Bloomberg Intelligence analysts, James Seyffart and Eric Balchunas.
– The relatively lower interest in search terms involving Bitcoin, crypto, Ethereum, XRP and Solana, based on Google Trends data. This indicates that we’re yet to hit the cycle peak. Mind you, the interest is picking up.
– President Donald Trump signed an executive order yesterday, urging federal regulators to make it easier for 401(k) plans to invest in crypto and other alternative assets.
———————————————————————————————————————–
Returning to the lawsuit. Renowned defence lawyer James K. Filan reported that both parties have filed a Joint Dismissal of the Appeals.
Part of me questions how much longer the lawsuit would have dragged out if Gary Gensler were still in charge of the Commission.
Fortunately, he resigned and we have a group of commissioners with a much friendlier stance towards crypto, including one of its longstanding representatives, Hester Peirce.
What will (probably) happen next?
I am expecting a Ripple IPO, something that has been discussed for years. Now that the case is closed, this public launch will likely occur within the next 6-9 months.
Now that there’s also regulatory clarity surrounding the treatment of dollar-backed stablecoins in the USA, courtesy of the GENIUS Act, Ripple would be looking to capitalise on the success and attention that Circle (CRCL) has garnered since launching on the New York Stock Exchange in June.
Additionally, I am expecting Ripple to start disclosing some of its banking partnerships, albeit slowly and strategically.
What could this mean for XRP’s price?
If all of the abovementioned bullish factors pan out, alongside the announcement of official collaboration with remittance services, banks and other financial institutions, we should comfortably see it hit $10 per token, triple the current price of $3.33.
This might sound like a bit of a stretch, but when a bull run (and FOMO) is in full swing, many altcoins will pump beyond expectations, driven by a narrative rather than the tech.
How high will XRP go this cycle? Are you planning on buying Ripple shares when it goes public?
Affiliate links
If you’d like to purchase a Ledger or Trezor product, please use the following link to help support my channel. I receive a small commission per sale at no additional cost.
https://shop.ledger.com/?r=a1b3ac23d773
https://affil.trezor.io/aff_c?offer_id=169&aff_id=35611
ProtonMail referral code. Use this link to receive a free month of Mail Plus: https://pr.tn/ref/K1AZHYGP2AA0
You might also be interested in these stories:
https://medium.com/@cryptowithlorenzo/bitcoin-is-going-to-zero-5562122f5481
Disclaimers
- N.B. None of this is financial advice; I am not a financial advisor. This information is for educational purposes only. You are ultimately responsible for your investments.
- My opinions in this piece might not reflect those behind any news outlet, person, organisation, or otherwise listed here.
